Ammonium Tetramolybdate Price - March 27, 2023

At the beginning of the week, China’s overall domestic molybdenum market was still weak. With many positive and negative factors intertwined, the buyer's market had a relatively large advantage, mainly reflected in the continuous reduction of suppliers' quotations and no obvious increase in transaction volume. 

What is more worth mentioning is that the current prices of molybdenum concentrate and ammonium tetramolybdate have dropped to about 3,700 yuan/ton and 252,000 yuan/ton respectively. In addition, under the recent long-term weak demand from downstream users, the market spot inventory growth rate faster. Since the price of molybdenum fluctuates widely recently, investors should always pay attention to market changes.

In terms of news: According to the data of the World Steel Association, in February 2023, the crude steel output of the 63 countries or regions included in the statistics of the World Steel Association in the world was 142.4 million tons, a year-on-year decrease of 1.0%. Among them, Africa's crude steel production was 1.1 million tons, down 11.9% year-on-year; Asia and Oceania 106.6 million tons, up 3.0% year-on-year; EU (27 countries) 10.5 million tons, down 12.6% year-on-year; other European countries 2.7 million tons, year-on-year 3.5 million tons in the Middle East, up 11.5% year-on-year; 8.3 million tons in North America, down 5.5% year-on-year; 6.4 million tons in Russia and other CIS countries + Ukraine, down 21.3% year-on-year; 3.2 million tons in South America, down 3.1% year-on-year %.

Prices of molybdenum products on March 27, 2023

Picture of TZM bar 

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